BP’s embattled CEO Tony Hayward will resign from his position in the month of August. Sources close to BP said that Tony Hayward who is 53 years old will make the announcement in the month of August. The reason given to Financiere about the resignation is that the company is trying to regain its reputation which was badly effected after the Gulf of Mexico Oil Spill.

When we approached the spokesman of BP Scott Dean, he clearly denied the report adding that the report is “a myth” adding that “Tony Hayward is in charge of BP”.

The oil spill has now stopped after a temporary capping on oil pipe but a permanent solution is yet to be seen. The Gulf of Mexico is a very big ocean and the efforts to clean the oil spill are not enough. It is considered the America’s worst environmental crisis, where more than 100 million gallons have gushed into the Gulf.

[Source: MSNBC]

Gold has witnessed some serious decline this month amid tight economic conditions in States. Gold is currently at $1,176.31 which dropped from $2,157.09, a sharp and unexpected fall. The economic situation has made it easy for investors to invest and make enormous profits from Foreign Exchange market and Stock Market. Euro has recently increased and economists believe that it will continue to rise till the end of September allowing investors to earn 22% profits on investments and therefore very few investments are being done in bullion and gold certificates.

The reason for fall of gold is due to precious metal’s slim demand however Gold miners are positive about the market in Future. Silver have also slipped to 0.8% in single day. The gold prediction in July and August looks bearish as investment opportunities in equities and trade have captured the market. The gold’s drop to eight-week low have already effected many countries regarding economic situation and other gold-backed investment portfolios. Analysts predict that after a short-fall in trade of Gold in the month of July, gold will rise to 11%.

[Source: Kitco]

The new iPhone 4 faced much criticism when the later new about the reception problem. The CEO of Apple Steve Jobs apologized to people and denied that the new iPhone 4 have antenna problems and the problem persist while users cover the specific spot of iPhone with bare hands. Apple Inc. will give free iPhone covers to its users which will help resolve the reception problem.

‘Almost 3 million buyers have purchased iPhone and the situation is not under control of Apple’, analysts predicted. The Apple Inc. shares have also been hit hard after the news circled the market and the shares of apple are not likely to recover in the near future. AAPL on Nasdaq will now witness frequent fluctuation but investors should be steady and should not panic on selling apple shares because Apple shares will benefit in long run. Apple shares slipped $1.80, almost 1 percent, to close Friday at $249.30.

A fraud case brought by the Securities and Exchange Commission against Goldman Sachs has been settled for $550 million, sources acknowledged Financiere. The Commission will proclaim the settlement at a press conference today.

Goldman “NYSE: gs” was accused by SEC of securities fraud in lawsuit which was filed against the Goldman corporation in April. The fraud of derivatives is linked to mortgage securities. Previously, Goldman was given a 30 day extension to counter Commission’s lawsuit where deadline ends on 19th July. Goldman Lawyers met the Commission for Settlements. To maintain the Goldman’s corporation, the lawyers are trying to convince Securities and Exchange Commission to drop the fraud allegations. It is expected that the allegations will be removed.

View the full GS chart at Wikinvest

The Stock Markets around the world were seen under negative trend specially in China where the industrial companies dropped and banks of China were seen rising. The stock markets around the world were cautious as U.S. services reports were disappointing allowing investors to be cautious in making investment move.

On the other hand the wall street was seen rising and Dow is now unexpectedly rising above 10,000 points. Crude oil was seen dropping whereas the dollar also fell against yen. Euro currency exchange which was expected to rise also weakened. The forecasting of Jim Rogers was wrong on Euro which he gave a month back.

Negative market trend was witnessed in European markets as FTSE was up 2 percent to 5,080.55. Germany’s DAX opened 0.1 percent lower to 6,010.47. Investors believe that Fifa world cup semi final match which was held in South Africa between Germany and Spain caused DAX to fall this morning. France’s CAC-40 was on 1.3 percent to 3,529.65 and Jap’s Nikkei 225 stock average closed down 0.3 percent at 9,276.65.

The disastrous Gulf of Mexico oil spill has cost BP $3 Billion for the cleaning work, capping the leakage and paying damages to businesses and governments. Previously BP had to pay $20 billion funds for Gulf damages. The relief wells are being dug in the Gulf but may not work properly due to bad weather forecast.

Smoke was also seen rising from the oil spill site as natural gas was burnt off. After the recent damages bill, BP is now more vulnerable to a takeover by either it’s competitors or by the government. Libya have shown interest in buying BP Shares and it is quite possible for Libya to be a major Stakeholder of BP. Nearly 45,000 employees are working on the oil spill site for clean up purposes.

Since BP had to pay billions of U.S. Dollars for the worst oil spill in the history, BP is now selling fields in different countries to meet the costs. BP shares are expected to fall down very soon as predicted by analysts. The FTSE was seen falling down and the shares of BP were climbing but this trend will short-live.

The trading was bearish on Monday amid worries over US economy and job market. It is believed that the world’s largest economy is suffering whereas other figures indicate that China’s economy could also be effected and slowed down.

The NYSE Dow Jones is currently at 9686 points. The British Stock Market FTSE 100 was recorded flat at 4,836.28 whereas Germany’s DAX was recorded at 5,834.21 and France’s CAC-40 was recorded at 3,340.00. Shanghai index was down by the afternoon at 2363 points whereas Nikkie was at 9266 points.

On the other hand, the forex market also witnessed some fluctuation as dollar rose and euro declined. The world forex market will soon go down due to corrections but this process could take a week. The analysts believe that the giant economy is responsible for the recent economic downturns.

US stocks fluctuates as Citigroup and BP jobless claims have circulated in the market. The jobless claims in US has recently witnessed 13,000 job cuts which is not economic friendly news. Currently at 9,700 points, Dow is expected to fluctuate for another week which will be the best time for investors to analyze the sinking market and buy shares of interest. This will allow them to make profit upto 13% by the end of August. Nasdaq is expected to hit below 2000 points which will be a very critical moment for stock players due to the type of market they are playing in. Nasdaq will not recover by this month because the investment portfolios have not backed the already sinking market. S&P shares are not attracting the new investments because the returns on Dow are far more better than the S&P and the percentage gained from investments measures 7%.

On the other hand, the BP shares forecast have also shown that the market is slightly effected because of BP policies whereas recently the BP shares have been seen rising due to progress in oil spill controlling and capping. The investors have heavily pulled out their shares from BP but company have maintained their employees’ shares not to be pulled out and huge investors have been favoured on investments. Financiere predicted US stock market last month that the market would increase in the month of June. This month the market will fluctuate allowing investors to buy shares with lowest rates possible. The time is not suitable for selling shares because panic selling would further cause market to sink. The US unemployment claims have risen which will further negatively effect the stock market.

View the full C chart at Wikinvest

After the statement of President Obama, “We Will Make BP Pay” the grounds for BP is under heat since BP had to pay $20 billion funds quarterly to help clean sweep the oil spill. The shares market for BP has narrowed down and already witnessed a 18% loss which is likely to fall more in the near future as been predicted by analysts. Since the oil spill, BP has faced serious backlash from big oil rivals. The BP is now on hot seat as it has to face some serious criticism and future bailout plan if the BP shares crash. “The ball will never be in BP’s court” stated Kim Rogers, Financial Analyst of Financiere. The disaster was purely BP’s mistake since the CEO Tony Hayward apologized for the oil spill. The shareholders of BP should keep this in mind that they won’t be able to recover their losses in the near future and the best time to sell the shares is now when BP is somehow managing to show a 0.19% profits. After the fund allocation, the stock market may get affected by 3% in general but BP will face huge losses.

The U.S. stock market is on the fall but the financial analysts have predicted that the market would rise to almost 600 points this month. Currently at 10,100 points the market may fall a little more than that which could create panic selling by the stock players but this panic will short-live. As confirmed by Goldman and with new investments entering the market, the U.S.stock market forecast is reported to be positive and will continue till the month of July.

The Gold and other precious metals has fallen due to short selling and lower demands, the investors are still heading towards stock markets and preferring shares of food, beverages, airways, pharmaceuticals, energy and banks. After the downfall of U.K. stock market, investors with investments in U.S. stock market consider themselves blessed that the downturn because of Euro and Greece has slightly effected the greenback and NYSE.

For new investors, starting of the month of June is the time to buy shares and by the mid of July would be the time of selling. This strategy would earn them almost 25% profits if the shares market is carefully selected. It is also recommended to invest in Forex market specially in Euros which is available at very affordable price and selling it when Euro market climbs again and it will because euro is the most fluctuating currency in the world and almost all investors play with Euro. But if stock market attracts you, make your investment move.